Cnooc Limited’s Net Profit Dropped 11.3% in First Half of 2023

Cnooc Limited (中国海洋石油有限公司) (600938.SH) reported a net profit of 63.7 billion yuan in the first half of 2023, down 11.3% year-on-year.

Meanwhile, the company posted 192.1 billion yuan in revenue, down 5.1% year-on-year.

At the end of the reporting period, it had 1 trillion yuan in total assets and 361.3 billion yuan in total liabilities, with a liability-to-asset ratio of 36.2%.